San Diego, CA -- (SBWIRE) -- 07/10/2012 -- If you are asking yourself When to Start a Short Sale, there is no right or wrong answer. If you have exhausted all your other options such as a refinance, loan modification or trying to sell your home for what you owe and have not had any success, it may be the time to start a short sale.
What is a short sale? - In simple terms, a Short Sale is a real estate transaction in which the homeowner sells a property for less than what is currently owed on the mortgage and is able to avoid foreclosure or bankruptcy. The lender in turn approves the short sale and agrees to accept less than what is owed on the mortgage to discharge the loan.
If you are wondering When to Start a Short Sale it is also important to know that if you are facing foreclosure, you should start the short sale process immediately. When dealing with a lender who has already started the foreclosure process time is of the essence. The sooner that you begin the short sale process with your lender, the better chance you will be able to get the short sale approval and be able sell your home.
What if you have already received a Notice of Trustee Sale?
If you have already received a notice of trustee sale you have waited too long, but it is still not too late. In most cases your lender will give you approximately 90 days to remedy your loan situation. This give you a very short amount of time to get your home on the market, get the short sale approval and get it sold.
Please contact us today 619-825-0000 for a free consultation with a short sale specialist or email us at email@example.com if you already received a Notice of Trustee Sale.
It is extremely important that you begin the short sale process to allow enough time for everything to be completed. A common misconception about short sales is that all you need to do is find a buyer. Many people do not understand that there is a lot of negotiating with the lender that happens behind the curtain. The best advice is to take into account how long a short sale can take and to make sure that you start the process with that timeframe in mind. If you have already decided that a short sale is your best option, it is time to put your home on the market.
How long does a short sale take?
Depends on many different factors, such as who your lender is, how long it takes to get an offer, how many loans you have, if you are behind on payments, and more. With an inexperienced short sale agent it could take 5 months or more. With our proven system and internal contacts with each lenders we have an average turnaround time of 3 months.
Avoiding foreclosure at all cost
When you ask yourself, when should I start a short sale my home? The answer is; Start a short sale when you know there is no other options available to you. If you don’t know the answer to that question, consult with a real estate or financial professional to assist you in making the right decision. The ultimate goal of a short sale is to help you to avoid foreclosure at any cost. If timing is ever an important factor this would be it.
Short Sale San Diego is a local real estate company that specializes in foreclosure prevention by providing alternative options to homeowners who are experiencing difficulties with their mortgage. Our knowledgeable team of agents and short sale negotiators are licensed by the Department of Real Estate and collectively have over 20 years of experience in the real estate and banking industries. Our team is uniquely experienced in the short sale process which makes us well equipped to help homeowners who deserve knowledgeable and up to date advice. We are San Diego Short Sale Experts!
Please contact us today 619-825-0000 for a free consultation with a Short Sale San Diego specialist or email us at firstname.lastname@example.org. You can also visit our Short Sale Blog or www.shortsalesandiego.com for more information.